Have you struggled with business development with your new business? Would you like some time dedicated to solving your business problems in a supportive environment? We have found there’s nothing better for this than a mastermind for business development. A couple of hours or even days dedicated to your business and that of a select few others will enable you to think clearly about your business problems and how to solve them.
What is a Mastermind?
A mastermind for business development is a meeting organised specifically with the intention of working on the businesses represented at that meeting. There will be at least one person from each business, and the meeting will be facilitated by the organiser. It will have a specific structure designed by the organiser, and the structure will depend on how large the mastermind group turns out to be, but a key point is that each person will get a dedicated spot to talk about their business in the group, and to get the group’s ideas to solve their business development problems.
What are business development problems?
All businesses struggle with business development. Some have a dedicated member of staff for this, but others may have no resources to allocate a specific team member for business development. And it may be just you, who has to do everything! If this is the case, it can be very beneficial to get together with other like-minded and successful individuals and brainstorm solutions for your business development problems, with each person getting time in the hot seat.
If you are stuck and can’t think of new ideas to move your business on to the next level, the input of others in a secure and discreet environment can really help.
What kind of business development problems can be solved at a mastermind session?
There’s very little that CAN’T be tackled at a mastermind session. But here are some possibilities:
How can I build my business?
How can I develop my business?
How can I write a business plan?
Can I come up with a business plan at a mastermind?
How can I develop passive income strategies?
How can I create more income?
How can I come up with new product ideas?
How can I come up with new marketing ideas?
How can I get some accountability for my business development?
How can I develop my unique selling point (USP)?
How can I do target market research?
Is my business plan viable?
What new offer can I add?
What are the benefits of a mastermind?
Masterminds for business development are cost effective – it’s only your time and the cost of the mastermind rather than paying for a business development consultant or a strategy report.
Masterminds offer skill sharing – you will benefit from the skills of everyone in your mastermind group.
Masterminds offer experience sharing – you can learn from the experiences of everyone in your mastermind group.
You can benefit from peer support – you will get ideas you’ve never even considered.
Focus – it’s rare that you get time to focus on business development, and especially rare that you have time to brainstorm with others about it.
Accountability – you can keep in contact with your mastermind group to give each other accountability and make sure you achieve the goals that were decided during the mastermind session.
Learn from other people’s experience and business development problems.
How can you set up or join a mastermind?
Mastermind session can be formal or informal, they can be a few hours or a few days. They can be a meeting in a living room or a retreat across the world. What they have in common is that they bring people together who can help each other with business development problems they are having.
The informal mastermind: you can gather together a few like-minded people from a networking or membership group you belong to. Hire a room and some refreshments, create an agenda and you have your mastermind.
The formal mastermind: you can join a formal mastermind programme which is run by someone experienced in facilitating these. The advantages – it’s run by someone who knows what they are doing and will attract people of a certain level in running their business. It’s likely that their advice and experience may be of a higher level too. The disadvantages – it is obviously more expensive than an informal scenario and may involve you travelling some distance.
If you decide a mastermind is for you, I’d love to hear which route you decide. Come and talk about it in my free Facebook group, Social Content Marketing.